Pricol Q2 PBT up 30% at Rs 9.8 crore

Profit before Tax stands at Rs 9.8 crore for second quarter FY 17-18, a 30 per cent growth over the immediate preceding quarter (Q1 FY 17-18). Coimbatore:Pricol, a leading manufacturer of automotive components for the global automotive market, announced its second quarter and half-yearly results of FY 2017-18.

The gap in total revenue is a result of drop in sales of Speed Limiting Devices as an effect of BS IV implementation.

Excluding Speed Limiting Device revenues, revenues grew by 7 per cent in second quarter FY 17-18 y-o-y and grew by 5 per cent in first half y-o-y of FY 17-18.

Revenues have grown by 9.4 per cent over the preceding quarter (Q1 FY 17-18).

Profit before Tax stands at Rs 9.8 crore for second quarter FY 17-18, a 30 per cent growth over the immediate preceding quarter (Q1 FY 17-18).

Vikram Mohan, Managing Director, Pricol, said: “Pricol has witnessed an average revenue growth of 7 per cent, against corresponding quarter last year excluding revenues from Speed Limiting Devices. The gap in total revenues is a result of drop in sales from Speed Limiting Devices as an effect to the implementation of BS IV norms. We continue to see robust growth in all other product segments that will compensate to the drop in sales from SLD.”

“At Pricol, we are investing in future ready technology and have successfully executed key strategic partnerships to meet the BS VI and safety norms set by the government of India to achieve our vision to become an Rs 3000-crore company by 2020. In line with our vision, we will continue to drive sustainable growth to meet our future aspirations in the current challenging market conditions.”

​​This comes as a surprise to the industry as Rakesh was recently elevated to the position of Directo Sales and Marketing which was the third promotion for him in six years of his tenure in the company.